Toronto-Dominion Bank (TSE:TD) Issues Quarterly Earnings Results

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) posted its quarterly earnings results on Thursday. The company reported C$2.77 earnings per share (EPS) for the quarter, FiscalAI reports. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The firm had revenue of C$16.93 billion for the quarter.

Toronto-Dominion Bank Stock Up 1.2%

Shares of TD stock opened at C$167.84 on Friday. The company has a market cap of C$277.28 billion, a P/E ratio of 19.70, a PEG ratio of 1.22 and a beta of 0.88. The business has a 50 day moving average of C$169.31 and a two-hundred day moving average of C$151.43. Toronto-Dominion Bank has a 52 week low of C$100.01 and a 52 week high of C$175.33.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 31st were paid a $1.12 dividend. The ex-dividend date was Friday, July 10th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 2.7%. Toronto-Dominion Bank’s payout ratio is presently 50.00%.

Insider Activity at Toronto-Dominion Bank

In related news, insider Kelvin Vi Luan Tran sold 8,498 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the transaction, the insider directly owned 26,677 shares in the company, valued at C$4,177,884.97. This represents a 24.16% decrease in their position. Also, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the sale, the insider directly owned 260 shares in the company, valued at C$41,917.20. This represents a 99.07% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TD shares. Jefferies Financial Group boosted their target price on shares of Toronto-Dominion Bank from C$151.00 to C$159.00 in a research report on Thursday, August 13th. Keefe, Bruyette & Woods set a C$180.00 price target on shares of Toronto-Dominion Bank and gave the stock a “hold” rating in a research report on Friday, August 21st. National Bank Financial set a C$190.00 price target on Toronto-Dominion Bank and gave the stock an “outperform” rating in a research note on Monday. Barclays lifted their price target on Toronto-Dominion Bank from C$140.00 to C$164.00 in a research note on Friday, August 21st. Finally, Scotiabank upped their price objective on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Moderate Buy” and an average target price of C$164.15.

About Toronto-Dominion Bank

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.